Membership, Alternate & ESA Savings Accounts

Membership Savings Account

Credit unions work a little different than banks. In order to join and become a member, you open a Membership Savings Account. You'll make an initial $25 deposit; this is your membership share in the credit union. You can add additional funds to this account, but at least $25 needs to remain in the account for as long as you are a member.

Once a member, you can take advantage of our full suite of financial products that include checking accounts, money market accounts, auto loans, credit cards, mortgages, home equity loans and more.

With this account, you'll earn competitive rates on your savings funds. Savings account dividends are calculated daily from the date of deposit to the date of withdrawal and are paid monthly.

Please note that under Regulation D, financial institutions are required to limit transfers and withdrawals made online or by phone to six (6) per month per account. The following types of transfers and withdrawals are exempt from the limit:

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Alternate Savings Account

An Alternate Savings Account is a way to organize your savings and set aside money for something special. Use this account to save for a vacation or set aside funds for large purchases.

There is no fee to open an Alternate Savings Account. You can have up to three saving accounts per account number. Savings account dividends are calculated daily from the date of deposit to the date of withdrawal and are paid monthly.

Please note that under Regulation D, financial institutions are required to limit transfers and withdrawals made online or by phone to six (6) per month per account. The following types of transfers and withdrawals are exempt from the limit:

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Educational Savings Accounts (ESA)

No setup fee

No annual fee

No miscellaneous fees

Federally Insured up to $250,000

Help finance a child's education by establishing an Education Savings Account (ESA). Anyone who meets the ESA income requirements can open an contribute to a child's ESA. This includes grandparents, aunts and uncles, family friends, and anyone else who wants to pitch in. Earnings on ESAs are tax-deferred and distributions are tax-free if the money is used to pay qualified education expenses.

Features

Educational Savings Accounts have a high earning rate that is variable.

Education Savings Accounts Certificates have a higher earning rate that is fixed for a term.

A minimum opening amount of $100 on ESA Savings and ESA Certificates makes it easy to start saving.